Table 1. (Continued). Summary: This is the continuation of the worksheet to determine the net operating loss carryover from 2007 to 2008. The line items to be completed are:

Under “Adjustment to Overall Itemized Limit:”

“33. Enter the amount from Schedule A (Form 1040), line 28, or Schedule A (Form 1040NR), line 17” field

“34. Add lines 17, 20, 25, and 30, and the amounts on Schedule A (Form 1040), lines 9, 14, and 27” field

“35. Add lines 17 and 25, the amount on Schedule A (Form 1040), line 13, and any gambling losses included on Schedule A (Form 1040), line 27” field

“36. Subtract line 35 from line 34. If the result is zero, enter the amount from line 32 on line 7above and stop here. Otherwise, go to line 37” field

“37. Multiply line 36 by 80% (.80)” field

“38. Subtract $156,400 ($78,200 if married filing separately) from the amount on line 13” field

“39. Multiply line 38 by 3% (.03)” field

“40. Enter the smaller of line 37 or line 39” field

“41. Divide line 40 by 3.0” field

“42. Subtract line 41 from line 40” field

“43. Subtract line 42 from line 34. Enter the result (but not less than your standard deduction amount)” field

“44. Subtract line 43 from line 33. Enter the result here and on line 7” field